B&H Payboo is the B&H’s very own new credit card created with one purpose – to return sales tax back to their customers. It works with online, in-store, or by phone purchases and does not have an upper limit. Savings depend on the shipping destination.
B&H CEO Menashe Horowitz announced in an e-mail today that B&H (the largest photo and video technology dealer in the United States and longterm cinema5D partner and sponsor) is launching their own credit card called Payboo. Why are they doing that? Nearly one year ago, the Supreme Court ruled that out-of-state retailers must collect sales tax on internet sales. This, of course, included B&H too. Since then, the company was looking for a way to limit the impact of this ruling on their customers. Now B&H claims to have found the solution with this exact credit card. How does it work?
B&H Payboo Credit Card – Get Sales Tax Back
The B&H Payboo card is offered through Synchrony Bank with a revolving limit for any B&H purchases made online, in-store, or by phone. B&H issues instant Payboo card savings on all non-tax-exempt purchases shipped to eligible states paid for with the Payboo Card in the form of a reward concurrently issued and redeemed directly on the order during checkout.
After purchase with the Payboo credit card, B&H will charge the total of the merchandise plus applicable fees and taxes, but they instantly issue and apply a reward on orders made in their SuperStore or shipped to eligible states right in checkout as a form of customer payment. Then, the amount charged to the Payboo Card is net of the benefit applied. This should affect residents of California instantly, because they have implemented the Supreme Court ruling recently.
B&H will collect and remit state sales tax in accordance with state sales tax laws and regulations. So, customers do pay the required sales tax and do not need to keep track or file anything separately. It seems like B&H is basically bearing the tax burden for their customers.
The B&H Payboo card savings does not have any upper limit. To find out how much can be saved on gear, B&H has a “Check savings link” on the Payboo card page. Savings vary based on shipping destination, so you would need to enter your ship-to zip code to find out the exact savings amount.
Payboo is only available for use at B&H. While Payboo is a personal credit card and not a corporate or business card, it can be used to pay for orders via B&H B2B and EDU portals. Individuals with a U.S. billing addresses and a valid SSN/ITIN may apply. Cardholders are subject to credit approval.
The Payboo Card can even be used on international purchases from B&H; however, there will not be any Payboo Card Savings on internationally shipped orders.
To apply for the Payboo credit card, you can click do so on their website. If approved, you will receive a confirmation screen, which you must save to use your account before your physical card arrives by mail. If you are not approved instantly, you will receive a subsequent letter with additional information from Synchrony bank within 30 days.
What do you think of the new B&H Payboo credit card? Are you US based and do you buy gear in their web store a lot? Let us know in the comments below.